MEDICAL/PHARMACEUTICAL
Each year Exhibit Surveys, Inc. releases the latest statistical norms for the healthcare industry convention audience quality, audience activity and exhibit performance indicators. Just a few of the key indices we regularly report are shown below (an additional 16 indices are reported annually). If you would like more information on trade show industry trends, please let us know. Click here to view our most recent Tradeshow Trends or request additional information by filling in our Information Request Form.
Audience Quality and Activity Indicators
These Indicators give an overview of the buying power and activity of trade show visitors. The following charts illustrate the change in a few of our key Audience Quality and Audience Activity Indicators (Total Buying Plans, Net Buying Influences, Traffic Density, Average Hours Viewing Exhibits, and First-time Attendees) over the last 8 years.
The charts below compare healthcare industry exhibits and events with all shows measured by Exhibit Surveys, Inc. across all major industry segments (high-tech, communications, manufacturing, retail trade, etc.).
Total Buying/Prescribing Plans (TBP) is the percentage of attendees planning to prescribe or buy one or more of the products/services exhibited at a convention within next twelve months after the event.
Net Buying Influences (NBI) is the net percentage of attendees who have one or more roles (final say, specify supplier, and/or recommend) in purchasing/prescribing the types of products exhibited. Net Buying Influences is traditionally one of the more stable indicators of audience quality. Prior to 2002, NBI was generally equal to the all-show average, however, since 2002, it has been slightly lower.
Traffic Density is a measure of the average number of attendees who occupied every 100 sq. ft. of exhibit space throughout the period the show is open. Variables in the calculation include total net attendance (excluding exhibitors), total paid exhibit space, average number of hours the attendees spend viewing the exhibits, and the total number of hours the show is open. Traffic Density is an indicator of the activity and synergism on the exhibit floor. Densities that are very high (over 5) make it difficult for effective face-to-face contact and thus adversely affects performance. Densities below 1.2 make it difficult for exhibitors to compete for the time and attention of attendees. As the all-show average Traffic Density has been gradually increasing, healthcare events have been seeing a slight decrease. This may be due, in part, to events becoming larger in size (square footage) in comparison to the number of attendees.
Average Hours Spent Viewing Exhibits measures the time attendees spend on the show floor visiting exhibits, and not the entire event. Time spent on the show floor (7.8 hours per attendee) has declined slightly in recent years. Attendees tend to spend less time on the exhibit floor compared with events across other industries. This is mainly due to other off-the floor activities (education sessions/CME, posters, etc.).
This indicator measures the percentage of attendees who visit a specific show for the first time and is a measure of success in attracting new attendees to the show. The average percentage of first-time attendees at shows has declined slightly over time. Ideally, a healthy show has a good mix of first-time to previous show attendees. Exhibitors should look at the overlap in attendance from the standpoint of how often a fresh look and/or approach is needed. The lower the overlap, the longer the same exhibit properties, graphics, presentations, etc. can be used without fear of overexposure to the same audience.
Exhibit Performance Characteristics
With the focus of corporate management on measuring ROI, companies often think of measurement as only assessing bottom-line results from exhibiting (i.e., message communication, brand enhancement, awareness building, lead generation, sales from leads, PR achieved, etc.). Measuring bottom-line results is important, but we believe that measurement should do more than measure ROI. If ROI is not good, what are the reasons? Is it the fault of the show, the exhibit, or the personnel working the exhibit? Listed below are three of the 12 top-line indicators of exhibit performance that Exhibit Surveys tracks.
Exhibit Attraction is the percentage of an exhibitor's Potential Audience who remembered visiting the company's exhibit. The function of the physical exhibit is to selectively attract its Potential Audience from among the total audience at the show. Factors which most often determine success in this regard include: awareness for the company and its products among the audience, pre and at-show promotion, exhibit design and graphics, demos and attention-getting techniques, interest in products or services exhibited, and exhibit size. Over the past several years, exhibitors have been more successful in selectively attracting their Potential Audience. Medical equipment and pharmaceutical event exhibitors have been generally more successful in selectively attracting the right types of attendees to their booths.
Exhibit Efficiency is the percentage of a company's Potential Audience with whom they had meaningful engagement. Meaningful engagement includes face-to-face interactions like talking to exhibit staff, viewing a demonstration, and/or requesting follow-up. Factors which impact Exhibit Efficiency are number of demos and personnel on duty relative to size of Potential Audience, quality and performance of staff and demos, alignment of staff profile with attendee profile, and staff training. Exhibit Efficiency is one of the most important indicators of performance because there is strong correlation between the level and quality of meaningful engagement in the exhibit and the results that can be achieved. On average, exhibitors have been maintaining a high-level face-to-face contact with their visitors. Medical equipment and pharmaceutical event exhibitors need to be cautious of the decreasing trend in Exhibit Efficiency scores being seen throughout the first half of this decade. Face-to-face contact has been continually decreasing over the past 3 years. This may be in part due to the types of presentation/details being given by exhibitors in their booths to their visitors - using a one-to-many approach (i.e., interactive theater presentations, group details, etc.) as opposed to a one-to-one approach.
The average Cost-per-Visitor Reached (CVR) figures are based on the total direct cost of exhibiting. The Attraction CVR is the cost per attendee who recalled having some exposure to the exhibit and is a part of the exhibitor's Potential Audience. The Exhibit Efficiency CVR is the cost per attendee who is part of the Potential Audience who recalls having meaningful engagement. These figures differ from cost per lead or cost per inquiry because they are based on all visitors who are part of the Potential Audience and not just leads or inquiries. The Attraction CVR has stabilized and actually declined as exhibitors have controlled costs better while continuing to selectively attract a high percentage of their Potential Audience. The Exhibit Efficiency CVR has increased because exhibitors are not taking full advantage of having meaningful engagement with those attracted. In fact, Exhibit Efficiency is declining which is magnifying the increase in the Exhibit Efficiency CVR.
* A partial list of the events measured that are included in the averages: AAOS , Society of Thoracic Sur , HIMSS , AORN , ACC , SAWC , ACOG , AUA Attendee , Society of Nuclear Med , Digestive Disease Week , ACFAS , WOCN , APMA , TCT , Wild West Veterinary Conf , ASRM , AAGL , NASS , ASTRO , American College of Surgeons , ACG (Gastroenterology) , American Dental , RSNA , ACR , ASN-Renal Week , and American Heart Association.